Obama To Execs: No More than $400,000 Per Year

President Obama will announce salary limits for executives from companies who took TARP money from the government.

If the taxpayers are helping you, then you’ve got certain responsibilities to not be living high on the hog,” the president added.

The administration will make its announcement as congressional lawmakers work on their own proposals to restrict compensation for companies that get money from the $700 billion government rescue fund. One legislative plan would set the highest salary at a government-assisted institutions at $400,000.

There already are limits, but they want further restrictions after it came out that $18 billion in bonuses went out after the economic turn-down. Is it the government’s place to set limits on income to those who run companies who get taxpayer dollars?